ENA Sectors 2024-11-06 17:04:39 <p><span style="font-size:14px"><strong>New Delhi, Nov 6 (KNN)</strong> Indias renewable energy (RE) sector witnessed significant growth in October 2024, bolstered by new tenders and a robust policy framework aimed at expanding green energy capacity. </span></p> <p><span style="font-size:14px">According to the Market Intelligence report by JMK Research, 16 new RE tenders totalling 11,098 MW were issued in October alone, reflecting the countrys ongoing commitment to reducing its carbon footprint and enhancing its green energy capacity.</span></p> <p><span style="font-size:14px">Among the key players driving this growth, National Hydroelectric Power Corporation (NHPC) floated a 1,200 MW solar tender, linked to the Inter-State Transmission System (ISTS), a critical element for facilitating power transfer across regions. </span></p> <p><span style="font-size:14px">The National Thermal Power Corporation (NTPC) followed suit with a major 1,200 MW wind-solar hybrid tender, along with an optional greenshoe capacity expansion of 600 MW. </span></p> <p><span style="font-size:14px">The Solar Energy Corporation of India (SECI) also issued bids for a further 1,200 MW of round-the-clock renewable power through ISTS connections, enhancing the reliability of green energy for the grid.</span></p> <p><span style="font-size:14px">The report highlighted an upward trend in installed RE capacity from January to September 2024, with India adding a notable 17,444 MW of solar and 2,626 MW of wind power. </span></p> <p><span style="font-size:14px">This growth lifted Indias cumulative renewable energy capacity to 201.46 GW, setting a robust foundation for future RE developments. In September alone, approximately 1,501 MW of new solar and wind capacity was added, marking a substantial month-over-month gain.</span></p> <p><span style="font-size:14px">Octobers RE auction activity was also dynamic, with a total of 6,316 MW allocated to various developers, underlining Indias drive toward a greener energy mix. </span></p> <p><span style="font-size:14px">On the investment front, the RE sector attracted $103 million in fresh financing, providing crucial capital for ongoing and future projects.</span></p> <p><span style="font-size:14px">Market activity on the Indian Energy Exchange (IEX) remained steady, with 33.55 million units traded in the Green Term Ahead Market (GTAM), indicating a stable demand for renewable energy across sectors. </span></p> <p><span style="font-size:14px">Additionally, the report observed a slight decrease of 1.18% in domestic prices for Mono PERC modules, a popular photovoltaic module, reflecting competitive pricing trends that could benefit project economics.</span></p> <p><span style="font-size:14px">Significant policy activity complemented the growth in October, with 10 central and 12 state-level notifications, regulations, and orders issued to support the RE sector. </span></p> <p><span style="font-size:14px">This regulatory momentum underscores the governments proactive stance in facilitating the growth of clean energy, ensuring that India remains on track to meet its ambitious renewable energy targets in the coming years.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39828 https://knnindia.co.in/news/newsdetails/sectors/indias-renewable-energy-sector-surges-with-11-gw-of-new-tenders-in-october-2024 2024-11-06 17:04:39 knnindia.co.in